The New Brunswick Investment Management Corporation—which provides investment management services for the province’s public sector pension plans—saw the value of its portfolio decrease by 2.7% for the first six months of fiscal year 2011-2012.
John Sinclair, the president and CEO of the corporation, said these types of short-term returns are not unusual given the equity market impact of sovereign debt concerns in Europe as well as global fears of a much larger economic slowdown.
Specific investment returns for the public service, teachers’ and judges’ pension plans were -2.84%, -2.53% and -2.82%, respectively. The difference in returns realized by these plans is due to different proportions of specific types of investment assets held by each of them.
The overall annualized real return (the return after adjusting for inflation) since the corporation’s inception back in 1996 ended the period at 4.28%.